Construction Sector in the U. S. Economy Elements and Employment Analyses

The construction sector is a major component of the U.S. economy. During the past decade, construction was a prime beneficiary of low interest rates and the housing-led economic boom, but was also one of the largest casualties of the subsequent financial crisis. There are three major segments of the construction sector: residential, commercial, and industrial/heavy construction. The segments have unique market characteristics and are subject to cyclical economic forces, though in somewhat differing ways. This book outlines the structure of the construction industry and describes congressional initiatives that affect the sector.